Metro Atlanta Real Estate is Moving Quickly

Epic Development has experienced a record breaking first half of 2012, and it is a reflection of the current state of the Atlanta real estate market.  Recently, we attended the Greater Atlanta Home Builders Association monthly meeting, and Steve Palm with $mart Numbers provided a market update for the first half of 2012, and the numbers are quite impressive. The current Atlanta real estate market is being compared to the 2006 market. Through June of 2012, there have been 38,493 resale closings. This almost beat the all time record of 40,752 closings for the first half of 2006. June 2012 was the 6th consecutive monthly reporting period with a year-to-year increase in new home closings. Again, the last time that occurred was March 2006. Permitting is up as well. There were 25% more permits issued during the 2nd quarter of 2012 versus the 1st quarter.  Inventories of homes for sale are shrinking quickly. For the past 18 months, inventories have dropped almost 50%. Furthermore, the months supply at the end of July was only 4.54, an indication that we are moving back to a seller’s market. 

According to the National Association of Home Builders, buyer traffic climbed to the highest level since May 2006. Cheaper properties and record-low borrowing costs are attracting buyers despite a sluggish labor market. “The housing market is moving in a positive direction, but there’s still a long way to go on the road to recovery,” said NAHB chairman Barry Rutenberg. 

For more information about homeownership or real estate investment in Atlanta call Jim LaVallee at 404-847-9080 or write Jim@EpicDevelopment.com. View all the details of our current listings here. For more information about commercial real estate operations or investment visit EpiCity.com.

2017-08-29T17:44:34+00:00 September 19th, 2012|Uncategorized|